Bitcoins are officially donkdown

[Dan Druff]

Benny: The Rogue Miner

“Benny,” a self-taught, 20-something computer whiz, set up three mining servers in his Wenatchee home last summer. Since then he has made enough profit not only to recover his initial investment but also to pay his monthly mortgage. As a bonus, the heat from the computers keeps his home heated all winter. “It’s just basically free money,” says Benny, pictured here with his homemade mining operation.

Funny how this guy is wearing a hoodie the same color as Kermit.

[sonatine]

Benny: The Rogue Miner

“Benny,” a self-taught, 20-something computer whiz, set up three mining servers in his Wenatchee home last summer. Since then he has made enough profit not only to recover his initial investment but also to pay his monthly mortgage. As a bonus, the heat from the computers keeps his home heated all winter. “It’s just basically free money,” says Benny, pictured here with his homemade mining operation.

[Krypt]

Out of the position yet?

Not yet. How about your fake short, did you cover?

I’ve effectively sent you into the shadowrealm. If I was you, I would never post again.

[sonatine]

[Charham]

so glad my cash out arrived yesterday, and I decided to hold overnight because of course it would go up enough to cover the transaction fees.... ugh, so now I hold it like a falling knife.

[sonatine]

so glad my cash out arrived yesterday, and I decided to hold overnight because of course it would go up enough to cover the transaction fees.... ugh, so now I hold it like a falling knife.

[tgull]

I hate bitcoin. LOL at wasting all electricity on this pile of shit. When you mine gold at least people use it for jewelry. Bitcoins are shit algorithms.

I have my buy in for 100 bitcoins at $8.

[OSA]

You guys don't understand. NOW is REALLY the time to buy.

Lets GoOoOoooOOoooo

[Krypt]

BLOODBATH

[Krypt]

absolute bloodbath reversal

Krypt your credibility in this thread is at a nut low

Perhaps ask Druff to ban you from the thread.

[Sheesfaced]

From reddit:


I make $47k a year at my job as an office assistant.

At the advice of my friends, I took most of my savings and bought 8 bitcoins back in early 2017 for about $7200. You can imagine how I felt when it went up. Around December 2017, I got caught up in the altcoins frenzy and sold most of my bitcoins (about $120k worth) to buy a bunch of different coins. I didn't know this back then but it looks like I owe income taxes on those trades, which adds up to about $50k if I add up state (California) and federal. But with the crash that happened recently, I added up my altcoins and I only have like $30k worth. I only have about $5k in other savings.

How do I pay this? Do I have to sell my altcoins, and give them what I can? Or is there some workaround?

Is all my savings gone now? I feel like I might have accidentally ruined my life because I didn't know about the taxes...

[sonatine]

https://www.stuff.co.nz/technology/1...-in-a-lifetime

'I lost more money in Bitcoin than most people will earn in a lifetime'

[MumblesBadly]

From reddit:


I make $47k a year at my job as an office assistant.

At the advice of my friends, I took most of my savings and bought 8 bitcoins back in early 2017 for about $7200. You can imagine how I felt when it went up. Around December 2017, I got caught up in the altcoins frenzy and sold most of my bitcoins (about $120k worth) to buy a bunch of different coins. I didn't know this back then but it looks like I owe income taxes on those trades, which adds up to about $50k if I add up state (California) and federal. But with the crash that happened recently, I added up my altcoins and I only have like $30k worth. I only have about $5k in other savings.

How do I pay this? Do I have to sell my altcoins, and give them what I can? Or is there some workaround?

Is all my savings gone now? I feel like I might have accidentally ruined my life because I didn't know about the taxes...

Sadly, this kind of stupidity is not limited to investing in cryptos. Novices regularly fuck up by underdiversifying and not accounting tax liability. In the recent housing bubble, I knew several poker players who got heavily into real estate with a ton of leverage, only to lose it all in the crash. Heck! Even knew a management professor who did so with Las Vegas real estate, using the appreciated value of the properties he and a partner had bought to buy more in 2006/2007. You can guess what happened to his net worth due to the crash.

[tgull]

I just sold or loaned against everything I own, all in on BTC and XRP, will cash out once BTC hits $12k and XRP $1.39

I stand to make several hundred thousand approx. 6 large before taxes and loan payments should my bet pay off. I can carry this for about 2-3 months.

The sooner my numbers hit the better of course.

Don't know anything about XRP, has BTC hit $12,000 since this post? Volume is flat out awful, it looks to be drifting at the moment.

Looks like we won't be seeing DTHP any time soon. I guess in theory Bitcoin could get back to $12,000, but XRP is dead, finished. It's at .68 a LONG way away from $1.39.

This should serve as a lesson to you young posters trying to get rich quick. There are no short cuts in life, only a long steady grind.

[sonatine]

From reddit:


I make $47k a year at my job as an office assistant.

At the advice of my friends, I took most of my savings and bought 8 bitcoins back in early 2017 for about $7200. You can imagine how I felt when it went up. Around December 2017, I got caught up in the altcoins frenzy and sold most of my bitcoins (about $120k worth) to buy a bunch of different coins. I didn't know this back then but it looks like I owe income taxes on those trades, which adds up to about $50k if I add up state (California) and federal. But with the crash that happened recently, I added up my altcoins and I only have like $30k worth. I only have about $5k in other savings.

How do I pay this? Do I have to sell my altcoins, and give them what I can? Or is there some workaround?

Is all my savings gone now? I feel like I might have accidentally ruined my life because I didn't know about the taxes...

Sadly, this kind of stupidity is not limited to investing in cryptos. Novices regularly fuck up by underdiversifying and not accounting tax liability. In the recent housing bubble, I knew several poker players who got heavily into real estate with a ton of leverage, only to lose it all in the crash. Heck! Even knew a management professor who did so with Las Vegas real estate, using the appreciated value of the properties he and a partner had bought to buy more in 2006/2007. You can guess what happened to his net worth due to the crash.

Mumbles who is your audience with this post, besides yourself? Who do you think is as stupid and/or easily amused as you?

[BetCheckBet]

[snake_in_the_ass]

Don't know anything about XRP, has BTC hit $12,000 since this post? Volume is flat out awful, it looks to be drifting at the moment.

Looks like we won't be seeing DTHP any time soon. I guess in theory Bitcoin could get back to $12,000, but XRP is dead, finished. It's at .68 a LONG way away from $1.39.

This should serve as a lesson to you young posters trying to get rich quick. There are no short cuts in life, only a long steady grind.

Very possible he got margined out of his position, who knows. I admire anyone who takes a shot. Lot of people got rich off of crypto because they had balls to play the game.

[sonatine]

CUDA Cores: 3200





that said, at current prices this can be counted on to generate about $1.30 a day soooOOoOoOOooOooooooo plus theres this:

The memory controllers normally get 2GB per controller assigned, now just 1GB, the card this has 5GB of VRAM. There's more cut away, only 4 PCIe lanes will be used, this to be able to add more (other) cards onto a motherboard. Prices have not been shared, availability remains a huge question mark as well. From what I understand, these cards receive one month of warranty.

[chinamaniac]

BLOODBATH

Best time to buy is when this post goes up

[Salty_Aus]

47Mh/s and it uses 250w.
Doesn't make sense if you need to pay for the electricity. With the current low price for ETH half your earnings would go towards power.
My two 1070's hash at 65Mh/s combined and draw 120w each. (240w total)
It's hardly worth mining at the moment with ETH @ sub $600 prices. I'm only making $3 AUD a day at the moment after I pay for power